Tuesday April 11, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly lower this morning while European stocks are trading higher by +0.60%. Geopolitical concerns continue to cause unease in equities creating heightened volatility. Asian stocks closed mostly mixed.
Technicals
The SPY traded relatively flat again throughout yesterday’s session testing the 20 day EMA to then close back below. Support will lie at the 50 day SMA at $234.64, followed closely by the low of yesterday’s range, also a recent pivot, at $234.54.Then, $233.91, $233.14, $231.61, $230.62, $229.56, $229.39, $228.31, $228.10 and the 100 day SMA at $229.54. Resistance will lie at the 20 day EMA at $235.43, followed by the high of yesterday’s range, which has now established a pivot point, at $236.30, then $237.39 and $237.61. New short term descending resistance falls at $237.45, followed by the remaining levels of resistance at $237.97, $238.10, $239.20, $239.44, $239.57, and record highs at $240.32.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
NONE
Economic Calendar
10:00 February JOLTS job openings, Est. 5.59M
12:00 USDA Apr WASDE crop production
1:00 Treasury Auction
1:45 Minneapolis Fed President Neel Kashkari speaks
Notable Earnings Before Open
Bank of the Ozarks (OZRK) – EPS Est. $0.72
Notable Earnings After Close
NONE